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Land Rover Range Rover Lease Questions

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Comments

  • pcaldwellpcaldwell Posts: 9
    Was quoted mf of .00245 and residual of 61% on a 24 month lease of a RR HSE. Does this seem reasonable? 5.88% seems high in this economy as well as considering a pending redesign. thanks
  • crimattcrimatt Posts: 18
    edited July 2012
    You haven't told us how many miles you were considering. However, I would surmise that your dealer is indeed padding the price.

    First, with a MF quote of .00245, you would have to have a Tier 4 credit score. This, notwithstanding, you would still be entitled to the current residual rates of 65% for 10k miles/year or 64% for 12k miles/year.

    At 61%, your dealer would be depriving you of one of the many benefits under the current 24 month program.

    Run do not walk...

    Cheers!

    crimatt
  • pcaldwellpcaldwell Posts: 9
    So, what is the tier I mf for a 24 mo. 10k/yr?
    thanks
    pete
  • crimattcrimatt Posts: 18
    edited July 2012
    Tier 1 credit: .00168/65% - HSE

    For the LUX, you lose 2 percentage points, regardless of the mileage.

    Cheers!

    crimatt
  • pcaldwellpcaldwell Posts: 9
    Thanks for your help. Do you know if a 27 month term is an option? And if so, does the residual % change. Thanks again. Pete

    ps: During my negotiation with the dealer, Im befuddled by the strict incentive qualifications and high money factor. Dont they realize we are in a recession? my two cents...
  • crimattcrimatt Posts: 18
    edited July 2012
    No, unfortunately, I am not aware of a 27 month option. I will tell you that, up until 8/01/012, the 24 month is the best bang for your buck. After this date, the residuals will invariably change. Presumably, for the better...

    I cannot speak for your salesperson's motives. I presume that, as with any sales situation, he may glean from the negotiations that you are in love with the car. Consequently, he knows that he can hardball you and probably get you to capitulate.

    Best advice: reverse the tables. Remember that he has everything to gain by closing the deal. You always have the option of walking away. He is not the only dealership with 2012s sitting on the lot. I think that if you can embrace the amount of power you have, you may be in a much better bargaining position.

    Cheers!

    crimatt
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    Hey camy2079. The numbers that you posted are indeed correct.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    Greetings pcaldwell. Chase's current buy rate lease money factor for a 24-month lease of a 2012 Range Rover HSE is only .00168 for consumers who qualify for its top credit tier. If your credit is in good shape then the dealer is likely marking your truck's money factor up to add additional profit to your deal.

    Car_man
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  • Will you post the August lease rates (mf and residual %) for 24mo. 10k mi/yr. when available. thank you
    pete
  • Long-time reader, first time poster here.

    Planning to pull the trigger on a HSE Lux. What is the Tier-1 residual and money factor on a 18-month lease?

    Also, the dealer want to apply a rebate to my drive-off cap reduction rather than applying it directly to the discount off MSRP. He is giving me something off MSRP and the rest discounted from my cap reduction drive-off calculation. I assume this is the same result either way, right?

    Many thanks, car_man!
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    Hi Pete. Chase's August buy rate lease money factor and residual value for a 24-month lease of a 2012 Land Rover Range Rover HSE with 10,000 miles per year are .00171 and 65%, respectively for consumers who qualify for its top credit tier.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    Welcome aboard jonmraz73. Chase's August buy rate lease money factor for an 18-month lease of a 2012 Land Rover Range Rover HSE is .00194 for consumers who qualify for its top credit tier.

    You're right, there's really not any difference between subtracting the $3,000 cash incentive on 18-month leases of this truck through Chase from your vehicle's selling price or from the amount due at lease signing.

    Car_man
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  • Can you advise on 2012 RR HSE -Chase's August MF and residual value for 36 month/10k miles...thank you
    Also, the loyalty and dealer incentive programs are $2000 and $4000, respectively ..(data from Edmunds incentive & rebate page)...realize these are at dealers discretion, but can you confirm that they can be used together?.....Land rover seems highly motivated to move these cars

    Also, as others have noted here, your info/insights are sincerely appreciated...Just finished leasing an Audi q5--your info was invaluable....also, insights and advice from users (Crimatt) are extremely helpful...THANK YOU!.....Marina
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    Thank you Marina. Chase's August buy rate lease money factor and residual value for a 36-month lease of a 2012 Land Rover Range Rover HSE with 10,000 miles per year are .00176 and 52%, respectively for consumers who qualify for its top credit tier.

    You should be able to take advantage of any available owner loyalty cash, but Land Rover's dealer cash incentives typically are not compatible with its special lease program.

    Car_man
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  • Is this public information? Is there somewhere I can go to see the current information for the various lease lengths and mileage requirements?

    Thanks!
  • Hi rbfallon. Unfortunately, I am not aware of any resource that provides timely, accurate information on banks' current lease programs directly to the general public.

    Car_man
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  • Thanks Car_man.

    I require 15K miles annually, can you give me the current rates for both a 3 year and 4 year lease? I have 800 credit....

    Thanks.

    RBF
  • You're welcome RBF. Chase's October buy rate lease money factor and residual value for a 36-month lease of a 2012 Land Rover Range Rover HSE with 15,000 miles per year are .00176 and 50% for consumers with your credit score.

    The numbers for an otherwise identical 48-month lease are .00198 and 41%.

    This truck's lease program is enhanced in certain states. If you tell me where you live I'll tell you if you're in one of them and what the improved lease program is.

    Car_man
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  • Car_Man, I'm looking at a similar lease option above, in California. Can you let me know if CA is one of the states with the enhanced lease program? Thank you!
  • Carman,

    Hope you can help me! :confuse: :)

    I'm in California and I am negotiating a lease for either 36 months or 48 months on an HSE LUX SPORT. Are there any dealer incentives on this model? What is the money factor for 786 FICO, and what is the end of term? Can you comment on these deals below? My preference is $0 drive off ($0 down/$0 TTL), but I think that payment is still a little high. I think they can do better on my price and the money factor. Also, on the 48 month, the money factor should be LOWER, correct? Thanks for your feedback/help! :) I'm doing this for the first time so just learning all of this! :) :confuse:

    These are the options I've been quoted:

    36 Months:
    Factory Invoice - $61,833
    MSRP: $66,795
    What is my price? $64,032.75
    What is the net cap cost? $64,032.75
    I need to understand the residual – end of term? $38,741.10
    I also need to know the money factor? .00199
    $0 down plus drive off = $2,422.79 total due at signing
    $907.07 plus tax = $977.37

    36 Months:
    Factory Invoice - $61,833
    MSRP: $66,795
    What is my price? $64,032.75
    What is the net cap cost? $64,032.75
    I need to understand the residual – end of term? $38,741.10
    I also need to know the money factor? .00199
    $0 down plus drive off = $0 total due at signing
    Payment is $979.19 plus tax = $1,055.08 incl tax

    48 months:
    Factory Invoice - $61,833
    MSRP: $66,795
    What is my price? $64,032.75
    What is the net cap cost? $64,032.75
    I need to understand the residual – end of term? $33,397.50
    I also need to know the money factor? .00210
    $842.83 plus tax = $908.15 inc tax
    $0 Downpayment, $2,352.93 drive off due at signing
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